BlackBerry kills buyout plan, ousts CEO

CNBC's Josh Lipton and Christina Warren of Mashable discuss the smartphone maker's decision to abandon a sale and raise funds from outside investors.

In another attempt to stay alive in the mobile world, BlackBerry has abandoned the plan to sell itself to its largest shareholder, Fairfax Financial Holdings. Instead, it announced that it would get $1 billion in outside investment to finance a turnaround.

BlackBerry CEO Thorstein Heins is being jettisoned along with the sellout plan.